Research finding summaries

Marx on Taxation

Tax is not treated comprehensively in any of the major political-economy texts of Marx and Engels, but is instead covered piecemeal, predominantly in their journalism, occasionally in their letters. They supported progressive taxes, both on capital and income, had a strong preference for direct over indirect taxation, and back restrictions on inheritance. The tax landscape of Marx and Engels is clearly different to our own – in 1849, indirect taxes accounted for 40% of the Prussian Royal Finance Ministry total tax take, and direct taxes, only 29%, whereas today in the UK or Germany, indirect taxes are in the minority, with direct taxes generating around two-thirds of the total take. Indirect taxes are expected to account for 28% of the UK total tax take in 2018-19. The poorest UK households currently pay twice as much of their disposable income in indirect taxes, a clear driver of net income inequality.

By |2019-08-28T17:47:01-04:00Aug 28, 2019|

The Ruling Class Does Rule

Social scientists should assuredly keep the structural constraints of capitalism in mind when developing state theory in the 21st century. However, we should not lose site of the fact that individuals also make history, and that a single-minded focus on the structural constraints of capitalism may only lead to a functionalist interpretation of the state, alongside a cynical approach to politics.

By |2019-07-17T11:52:11-04:00Jul 17, 2019|

It’s Not Just Profitability: A Response to Michael Roberts

Marxism has a future only if its practitioners confront unexpected developments with a determination to find their roots using the methodology and concepts of Marxism, not by trying to show that the evidence is wrong out of a misplaced fear that any unexpected development threatens to undermine Marxism.

By |2019-06-21T11:19:09-04:00Jun 21, 2019|

Controlling the Poor

As prison and jail admissions have decreased around 25% from their late-2000s peak, private prison companies have begun to invest heavily in “alternatives to incarceration”, such as probation facilities and GPS monitoring (a form of control which has increased 70% in the past twenty years and has become a $6 billion industry). These “alternatives” are presented as more humane, and cheaper, ways of managing criminalized populations. However, as the Moratorium on Deportations Campaign notes, these “alternatives” are linked “to a much broader process of expanding, informationalizing, and generalizing the prison … When the prison is everywhere, it is also invisible as the new form of social reality.”

By |2019-06-04T09:46:54-04:00Jun 4, 2019|

The class struggle over democracy

To understand democracy — to defend it and to deepen it — we should examine its long history rather than obsess about recent headwinds. In a recent article published in the American Journal of Sociology, I attempt to do just that. My research suggests that democratic progress over the last 150 years is the fruit of the changing character of class struggle over the state. Democracy has its origins in the capacity of the poor to disrupt the routines of the rich.

By |2019-05-31T09:54:44-04:00May 28, 2019|

Why Stagnation?

The neoliberal growth model generated intensifying contradictions over time. Household debt rose rapidly, eventually becoming unsustainable. The debt of financial institutions rose even more rapidly, giving rise to increasing financial fragility. Highly risky mortgage-backed securities spread throughout the financial system. The system became increasingly vulnerable to the inevitable deflation of an asset bubble. When the giant real estate bubble of the 2000s deflated in 2007, the major banks became insolvent. Households were no longer able to borrow and had to cut their consumer spending. Corporate managers slashed investment spending. The Great Recession and Financial Crisis had begun. The rate of profit in the U.S. bounced back quickly after 2009. In the following years it reached the highest level of the neoliberal era. This demonstrated that neoliberal capitalism continues to promote high profits, by maintaining capital in a strongly dominant position over labor. Yet capital accumulation did not respond to the rising rate of profit

By |2019-05-24T12:40:41-04:00May 24, 2019|

Survey Finds Economists’ Politics Loom Large in their Views of Capitalist Crises

We doubt the extent to which the Marxist tradition has developed an adequate social psychology of knowledge.  People’s politics cannot, of course, be simply read off their class position alone.

By |2019-03-28T20:01:03-04:00Mar 23, 2019|